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Your state taxing agency will likely file a Tax Warrant for the amount of tax you owe with the County Clerks office in the county that you reside. This TW will affect your credit score in a severe negative manner.

Keep in mind that the Failure To Pay Penalty will continue to accrue on the amount you owe plus Interest on the tax you owe PLUS Interest on the penalties. It can grow to a rather large sum in just a few years.

It's a far better thing to obtain financing to payoff the tax bill and then just pay off the loan over time.

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13y ago

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